I just turned off the market analysis software to clear my mind. Recently, everyone has been fixated on extreme funding rates, shouting about reversals one moment and continuing to squeeze the bubble the next. Actually, I care more about the underlying main thread: where the data is first placed, who queues up, and when it’s considered a “true end.” To put it simply, data availability is whether you can verify the account afterward; sorting is who decides the order (don’t just look at how fast blocks are produced); finality is whether you dare to treat it as a definitive conclusion. The terms sound intimidating, but focusing on “can verify, can sort, can finalize” is pretty much it. Even if funding rates are lively, it’s just a temporary phase; these underlying factors determine whether the narrative can stand firm.